BTCUSD Daliy W-shaped recovery
Bitcoin is currently experiencing a W-shaped recovery that is unfolding rapidly.
Yesterday, Bitcoin decisively broke above the 1D EMA200 (blue trend line) and closed above it, nearly erasing the 25% losses from August. This swift and strong reversal is due to the classic 'W-shaped recovery' pattern, which is now fully developing.
The price has reached the 0.618 Fibonacci retracement level. If it manages to break through this level, we could see a complete price recovery by the first week of September, potentially reaching between $73,000 and $80,000.
Do you believe the pattern will complete?
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Yesterday, Bitcoin decisively broke above the 1D EMA200 (blue trend line) and closed above it, nearly erasing the 25% losses from August. This swift and strong reversal is due to the classic 'W-shaped recovery' pattern, which is now fully developing.
The price has reached the 0.618 Fibonacci retracement level. If it manages to break through this level, we could see a complete price recovery by the first week of September, potentially reaching between $73,000 and $80,000.
Do you believe the pattern will complete?
If you found this analysis helpful, please SUBSCRIBE ✍️ and SHARE 🙌!"
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